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Monday, March 16, 2015

SHOP: WHAT SHOULD REPLACE CONWAYS AT 116TH?

A Bespoke tip came in over the weekend showing that Conways at the corner of 116th Street and Lenox will be shuttering its doors. This is obviously a prime retail corner in South Harlem because of the express 2,3 trains right out front makes it an easy destination spot. The location is also just blocks away from the Mount Morris Park Historic District and the FDB condo corridor. Clearly the rent will go up at this substantial retail opportunity so what should arrive here that will generate a lot of foot traffic? We have one obvious choice in mind but does anyone else have suggestions?

Trader Joe's lost the opportunity to come to Harlem years ago instead opting for the affluent Upper West Side. Now that Whole Foods has pledged to come (whenever that construction is finished) maybe Trader Joe's will become second fiddle to Whole Foods. In other words, Trader Joe's talks progressive but sticks to the the tried and true.

Whole Foods and Trader Joe's have different expansion strategies. Whole Foods tries to get first mover advantages in markets and is willing to take a chance on underserved areas. More often than not Trader Joe's is not willing to take that risk and wants to move into established neighborhoods. That said, a Trader Joe's would help to bring fresher, healthier food options at lower prices and would be a welcome improvement on the Fine Fare across the street.

Well, it seems this is a selling strategy from Conway. They have put those signs on a couple of times already, so people will stop by to shop thinking that everything is on sale. If this time is true that they are closing, a Trader Joe's would be perfect on that location and a big plus for this neighborhood. The super market across the street is way to expensive for what they offer.

That already happened last year. The store was allowed to keep the Conway name but merchandise and signage inside the store were changed. I don't know if this latest is just a sales ploy or if they are actually closing.

Trader Joes...the Upper West side has both Trader Joes and Whole Foods and each does very well. Same situation in Union Square area. If not a grocer then definitely a Container Store since BBB is opening on 125th.

a big market of multiple vendors like http://www.essexstreetmarket.com/. just a big indoor farmer's market type of place. lots of vendors of different types - produce, cheese, meats, asian veggies, ice cream, bakery. great way for a small business to only have to rent a small space but have lots of foot traffic.